InTrack Investment Management Inc Raises Stock Holdings in Bunge Global SA (NYSE:BG)

InTrack Investment Management Inc grew its stake in shares of Bunge Global SA (NYSE:BG) by 48.2% during the first quarter, Holdings Channel reports. The institutional investor owned 14,621 shares of the basic materials company’s stock after buying an additional 4,755 shares during the period. Bunge Global comprises 1.1% of InTrack Investment Management Inc’s holdings, making the stock its 23rd biggest position. InTrack Investment Management Inc’s holdings in Bunge Global were worth $1,499,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Bunge Global by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after purchasing an additional 578,065 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Bunge Global by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,138,378 shares of the basic materials company’s stock valued at $215,879,000 after buying an additional 42,592 shares in the last quarter. LSV Asset Management raised its position in shares of Bunge Global by 86.8% during the fourth quarter. LSV Asset Management now owns 1,430,760 shares of the basic materials company’s stock valued at $144,435,000 after buying an additional 664,632 shares during the last quarter. Norges Bank purchased a new position in shares of Bunge Global in the fourth quarter worth $128,092,000. Finally, Royal Bank of Canada boosted its position in shares of Bunge Global by 55.8% during the third quarter. Royal Bank of Canada now owns 613,412 shares of the basic materials company’s stock worth $66,402,000 after acquiring an additional 219,819 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Bunge Global Price Performance

BG stock traded up $3.06 during trading on Tuesday, hitting $110.38. 1,682,544 shares of the company’s stock traded hands, compared to its average volume of 1,603,887. The business has a fifty day simple moving average of $104.61 and a 200 day simple moving average of $99.63. Bunge Global SA has a 52 week low of $86.10 and a 52 week high of $116.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 8.79 and a beta of 0.67.

Bunge Global (NYSE:BG) last announced its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The firm had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. During the same quarter last year, the firm earned $3.26 EPS. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. As a group, research analysts expect that Bunge Global SA will post 9.28 EPS for the current fiscal year.

Bunge Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, February 18th. Bunge Global’s dividend payout ratio is currently 21.90%.

Analyst Ratings Changes

Separately, Citigroup lifted their price target on shares of Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $121.00.

Insider Activity at Bunge Global

In related news, insider Christos Dimopoulos sold 20,000 shares of Bunge Global stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the completion of the transaction, the insider now directly owns 87,999 shares of the company’s stock, valued at approximately $9,086,776.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by insiders.

Bunge Global Profile

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.